Carl Icahn’s at it again: petroleum refiner and marketer CVR Energy
CVI, +1.97%
confirmed late Thursday that the billionaire’s Icahn Partners LP plans an unsolicited tender offer at a cash price of $30 a share as well as a proxy contest for control of the company’s board. The tender would also include a cash contingent value right, the company said. Icahn hasn’t commenced a formal tender offer nor indicated when he will do so, according to CVR Energy. He also gave the company notice that he would place nine names in nomination for election to the board of directors at CVR Energy’s annual meeting, where he would also submit a shareholder proposal. Five of the nine are employees of Icahn, the company said, adding that its board “will review all of Mr. Icahn’s actions and respond as appropriate in due course.” Earlier Thursday, Icahn’s announcement of the offer for CVR Energy specified an initial expiration date of the tender as expected “on or about March 23.” The investor said he hopes the move would trigger acquisition interest in the Sugar Land, Tex.-based company, perhaps at a price of “at least $37 per share.”

Talbots Inc.
TLB, +0.66%
said its board “continues to explore a full range of strategic alternatives to maximize value for all Talbots stockholders.” The announcement came as Talbots entered into a $75 million secured term loan and, on a related note, amended its $200 million secured revolving credit facility. The board isn’t working against a definitive timetable, and “there can be no assurance of any transaction as a result of the board’s review,” the Hingham, Mass.-based apparel retailer said.

Also late Thursday, Sanderson Farms Inc.
SAFM, +1.18%
said it’s replenished its stock-buyback program, restored to an authorization of 1 million common shares. The program has been extended to Feb. 16, 2014, the Laurel, Miss.-based company said. Under the buyback program that its board approved in October 2009, Sanderson Farms repurchased 782,096 shares. In addition, the board and its compensation committee authorized the repurchase at fair market value shares issued to participants in the company’s stock incentive plan to meet withholding-tax obligations. Sanderson Farms said it has about 23 million shares outstanding.

Along with reporting fourth-quarter and full-year financial results, B&G Foods Inc.
BGS, -0.54%
said its board voted to raise the company’s dividend on common stock — the third such increase since the beginning of 2011. The 17% hike brings the Parsippany, N.J.-based company’s quarterly dividend to 27 cents a share, payable April 30 to stockholders of record as of March 30.

The board of Scripps Networks Interactive Inc.
SNI, +0.59%
approved a 20% increase in the company’s quarterly dividend, to 12 cents a share. The dividend’s payable March 9 to holders of record as of Feb. 29, the Knoxville, Tenn.-based company said.

The board of Silgan Holdings Inc.
SLGN, -0.26%
declared a quarterly dividend of 12 cents a share, representing a 9% increase. The dividend’s payable March 26 to holders of record as of March 12, the Stamford, Conn.-based packaging provider said. Silgan Holdings has increased its dividend every year since it began paying them in 2004.

Thursday earnings recap

SunPower
SPWR, -4.79%
reported fourth-quarter results that came in better than management’s expectations: a profit of 16 cents a share on an adjusted basis, even with the prior quarter and down from a comparable $1.36 a share in the final three months of 2010. The San Jose Calif.-based company posted a net loss of $83.1 million, or 84 cents a share, on revenue of $563.4 million for the latest quarter. And for the first quarter, SunPower said it expects a loss of 5 cents to 20 cents a share on an adjusted basis, along with a net loss of 45 cents to 60 cents a share as well as net revenue of $420 million to $495 million. SunPower also said it ended 2011 with more than $683 million in available cash and liquidity.

Applied Materials
AMAT, -1.20%
issued a decidedly upbeat short-term forecast as the company reported net income of $117 million, or 9 cents a share for the first quarter ended Jan. 29, down from $506 million, or 38 cents, earned in the year-earlier period. The Santa Clara, Calif.-based company’s earnings on an adjusted basis were 18 cents a share for the quarter, half the 36 cents earned on a comparable basis in fiscal 2011. Quarterly revenue fell to $2.19 billion from the prior year’s $2.69 billion. Analysts, on average, had been looking for an adjusted profit of 12 cents a share on revenue of $1.97 billion, according to a FactSet Research poll. For the second quarter of fiscal 2012, Applied Materials expects adjusted earnings in a range of 20 cents to 28 cents a share — well ahead of the FactSet-compiled consensus of 16 cents — as sales rise an estimated 5% to 15% from the previous quarter. Applied Materials sees “solid order momentum and an improved outlook overall for our second quarter,” Chief Executive Mike Splinter said in a statement. Read more on Applied Materials.

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